IL SB0309 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 2 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 2 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Higher Education Student Assistance Act. Creates the Teacher Loan Repayment Program. Provides that the Illinois Student Assistance Commission shall consider applications for forgiving portions of qualified applicant's education loans each year. Provides that 10% of the applicant's yearly loan balance shall be forgiven each year for 5 years or until 50% of the applicant's outstanding balance at the time of the initial application is paid off. Effective July 1, 2024.
Title
STUDENT LOANS-TEACHER FORGIVE
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2023-02-14 | Senate | Added as Co-Sponsor Sen. Meg Loughran Cappel |
| 2023-02-07 | Senate | Assigned to Appropriations- Education |
| 2023-02-02 | Senate | Referred to Assignments |
| 2023-02-02 | Senate | First Reading |
| 2023-02-02 | Senate | Filed with Secretary by Sen. Ram Villivalam |
Code Citations
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=309&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB0309.htm |
